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Savings Plan and Future Cost Estimation

Estimated Annual Cost in 2038$81,873
Monthly savings required$648

How much will it cost to send your child to Ramapo College of New Jersey in 18 years and how much do you need to save?  A 4 year degree is estimated to be priced at $327,490.98 for students enrolling in 2038 if tuition increases average 5% per year until then.   Assuming you have no current college savings, monthly deposits of $648.09 into a 529 or other college savings plan earning and after tax or tax exempt return of 7% will be necessary to achieve this balance.

Assumptions

Current Annual Cost$31,572.00
Years until enrollment18
Annual Tuition Increase5%
Current Savings$0.00
After Tax Return on Savings7%
Years of enrollment4

Current Savings Shortfall

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Planned Savings Balance

College Savings Schedule

Month Begin Deposit Withdraw Interest End
1 $0.00 $648.09 $0.00 $0.00 $648.09
2 $648.09 $648.09 $0.00 $3.66 $1,299.84
3 $1,299.84 $648.09 $0.00 $7.35 $1,955.28
4 $1,955.28 $648.09 $0.00 $11.06 $2,614.43
5 $2,614.43 $648.09 $0.00 $14.78 $3,277.30
6 $3,277.30 $648.09 $0.00 $18.53 $3,943.92
7 $3,943.92 $648.09 $0.00 $22.30 $4,614.31
8 $4,614.31 $648.09 $0.00 $26.09 $5,288.49
9 $5,288.49 $648.09 $0.00 $29.90 $5,966.48
10 $5,966.48 $648.09 $0.00 $33.74 $6,648.31
11 $6,648.31 $648.09 $0.00 $37.59 $7,333.99
12 $7,333.99 $648.09 $0.00 $41.47 $8,023.55
13 $8,023.55 $648.09 $0.00 $45.37 $8,717.01
14 $8,717.01 $648.09 $0.00 $49.29 $9,414.39
15 $9,414.39 $648.09 $0.00 $53.23 $10,115.71
16 $10,115.71 $648.09 $0.00 $57.20 $10,821.00
17 $10,821.00 $648.09 $0.00 $61.18 $11,530.27
18 $11,530.27 $648.09 $0.00 $65.19 $12,243.55
19 $12,243.55 $648.09 $0.00 $69.23 $12,960.87
20 $12,960.87 $648.09 $0.00 $73.28 $13,682.24
21 $13,682.24 $648.09 $0.00 $77.36 $14,407.69
22 $14,407.69 $648.09 $0.00 $81.46 $15,137.24
23 $15,137.24 $648.09 $0.00 $85.59 $15,870.92
24 $15,870.92 $648.09 $0.00 $89.74 $16,608.75
25 $16,608.75 $648.09 $0.00 $93.91 $17,350.75
26 $17,350.75 $648.09 $0.00 $98.10 $18,096.94
27 $18,096.94 $648.09 $0.00 $102.32 $18,847.35
28 $18,847.35 $648.09 $0.00 $106.57 $19,602.01
29 $19,602.01 $648.09 $0.00 $110.83 $20,360.93
30 $20,360.93 $648.09 $0.00 $115.12 $21,124.14
31 $21,124.14 $648.09 $0.00 $119.44 $21,891.67
32 $21,891.67 $648.09 $0.00 $123.78 $22,663.54
33 $22,663.54 $648.09 $0.00 $128.14 $23,439.77
34 $23,439.77 $648.09 $0.00 $132.53 $24,220.39
35 $24,220.39 $648.09 $0.00 $136.95 $25,005.43
36 $25,005.43 $648.09 $0.00 $141.38 $25,794.90
37 $25,794.90 $648.09 $0.00 $145.85 $26,588.84
38 $26,588.84 $648.09 $0.00 $150.34 $27,387.27
39 $27,387.27 $648.09 $0.00 $154.85 $28,190.21
40 $28,190.21 $648.09 $0.00 $159.39 $28,997.69
41 $28,997.69 $648.09 $0.00 $163.96 $29,809.74
42 $29,809.74 $648.09 $0.00 $168.55 $30,626.38
43 $30,626.38 $648.09 $0.00 $173.17 $31,447.64
44 $31,447.64 $648.09 $0.00 $177.81 $32,273.54
45 $32,273.54 $648.09 $0.00 $182.48 $33,104.11
46 $33,104.11 $648.09 $0.00 $187.18 $33,939.38
47 $33,939.38 $648.09 $0.00 $191.90 $34,779.37
48 $34,779.37 $648.09 $0.00 $196.65 $35,624.11
49 $35,624.11 $648.09 $0.00 $201.42 $36,473.62
50 $36,473.62 $648.09 $0.00 $206.23 $37,327.94
51 $37,327.94 $648.09 $0.00 $211.06 $38,187.09
52 $38,187.09 $648.09 $0.00 $215.92 $39,051.10
53 $39,051.10 $648.09 $0.00 $220.80 $39,919.99
54 $39,919.99 $648.09 $0.00 $225.71 $40,793.79
55 $40,793.79 $648.09 $0.00 $230.65 $41,672.53
56 $41,672.53 $648.09 $0.00 $235.62 $42,556.24
57 $42,556.24 $648.09 $0.00 $240.62 $43,444.95
58 $43,444.95 $648.09 $0.00 $245.64 $44,338.68
59 $44,338.68 $648.09 $0.00 $250.70 $45,237.47
60 $45,237.47 $648.09 $0.00 $255.78 $46,141.34
61 $46,141.34 $648.09 $0.00 $260.89 $47,050.32
62 $47,050.32 $648.09 $0.00 $266.03 $47,964.44
63 $47,964.44 $648.09 $0.00 $271.20 $48,883.73
64 $48,883.73 $648.09 $0.00 $276.40 $49,808.22
65 $49,808.22 $648.09 $0.00 $281.62 $50,737.93
66 $50,737.93 $648.09 $0.00 $286.88 $51,672.90
67 $51,672.90 $648.09 $0.00 $292.17 $52,613.16
68 $52,613.16 $648.09 $0.00 $297.48 $53,558.73
69 $53,558.73 $648.09 $0.00 $302.83 $54,509.65
70 $54,509.65 $648.09 $0.00 $308.21 $55,465.95
71 $55,465.95 $648.09 $0.00 $313.61 $56,427.65
72 $56,427.65 $648.09 $0.00 $319.05 $57,394.79
73 $57,394.79 $648.09 $0.00 $324.52 $58,367.40
74 $58,367.40 $648.09 $0.00 $330.02 $59,345.51
75 $59,345.51 $648.09 $0.00 $335.55 $60,329.15
76 $60,329.15 $648.09 $0.00 $341.11 $61,318.35
77 $61,318.35 $648.09 $0.00 $346.70 $62,313.14
78 $62,313.14 $648.09 $0.00 $352.33 $63,313.56
79 $63,313.56 $648.09 $0.00 $357.98 $64,319.63
80 $64,319.63 $648.09 $0.00 $363.67 $65,331.39
81 $65,331.39 $648.09 $0.00 $369.39 $66,348.87
82 $66,348.87 $648.09 $0.00 $375.15 $67,372.11
83 $67,372.11 $648.09 $0.00 $380.93 $68,401.13
84 $68,401.13 $648.09 $0.00 $386.75 $69,435.97
85 $69,435.97 $648.09 $0.00 $392.60 $70,476.66
86 $70,476.66 $648.09 $0.00 $398.49 $71,523.24
87 $71,523.24 $648.09 $0.00 $404.40 $72,575.73
88 $72,575.73 $648.09 $0.00 $410.35 $73,634.17
89 $73,634.17 $648.09 $0.00 $416.34 $74,698.60
90 $74,698.60 $648.09 $0.00 $422.36 $75,769.05
91 $75,769.05 $648.09 $0.00 $428.41 $76,845.55
92 $76,845.55 $648.09 $0.00 $434.50 $77,928.14
93 $77,928.14 $648.09 $0.00 $440.62 $79,016.85
94 $79,016.85 $648.09 $0.00 $446.77 $80,111.71
95 $80,111.71 $648.09 $0.00 $452.96 $81,212.76
96 $81,212.76 $648.09 $0.00 $459.19 $82,320.04
97 $82,320.04 $648.09 $0.00 $465.45 $83,433.58
98 $83,433.58 $648.09 $0.00 $471.75 $84,553.42
99 $84,553.42 $648.09 $0.00 $478.08 $85,679.59
100 $85,679.59 $648.09 $0.00 $484.44 $86,812.12
101 $86,812.12 $648.09 $0.00 $490.85 $87,951.06
102 $87,951.06 $648.09 $0.00 $497.29 $89,096.44
103 $89,096.44 $648.09 $0.00 $503.76 $90,248.29
104 $90,248.29 $648.09 $0.00 $510.28 $91,406.66
105 $91,406.66 $648.09 $0.00 $516.83 $92,571.58
106 $92,571.58 $648.09 $0.00 $523.41 $93,743.08
107 $93,743.08 $648.09 $0.00 $530.04 $94,921.21
108 $94,921.21 $648.09 $0.00 $536.70 $96,106.00
109 $96,106.00 $648.09 $0.00 $543.40 $97,297.49
110 $97,297.49 $648.09 $0.00 $550.13 $98,495.71
111 $98,495.71 $648.09 $0.00 $556.91 $99,700.71
112 $99,700.71 $648.09 $0.00 $563.72 $100,912.52
113 $100,912.52 $648.09 $0.00 $570.57 $102,131.18
114 $102,131.18 $648.09 $0.00 $577.46 $103,356.73
115 $103,356.73 $648.09 $0.00 $584.39 $104,589.21
116 $104,589.21 $648.09 $0.00 $591.36 $105,828.66
117 $105,828.66 $648.09 $0.00 $598.37 $107,075.12
118 $107,075.12 $648.09 $0.00 $605.42 $108,328.63
119 $108,328.63 $648.09 $0.00 $612.51 $109,589.23
120 $109,589.23 $648.09 $0.00 $619.63 $110,856.95
121 $110,856.95 $648.09 $0.00 $626.80 $112,131.84
122 $112,131.84 $648.09 $0.00 $634.01 $113,413.94
123 $113,413.94 $648.09 $0.00 $641.26 $114,703.29
124 $114,703.29 $648.09 $0.00 $648.55 $115,999.93
125 $115,999.93 $648.09 $0.00 $655.88 $117,303.90
126 $117,303.90 $648.09 $0.00 $663.25 $118,615.24
127 $118,615.24 $648.09 $0.00 $670.67 $119,934.00
128 $119,934.00 $648.09 $0.00 $678.12 $121,260.21
129 $121,260.21 $648.09 $0.00 $685.62 $122,593.92
130 $122,593.92 $648.09 $0.00 $693.16 $123,935.17
131 $123,935.17 $648.09 $0.00 $700.75 $125,284.01
132 $125,284.01 $648.09 $0.00 $708.37 $126,640.47
133 $126,640.47 $648.09 $0.00 $716.04 $128,004.60
134 $128,004.60 $648.09 $0.00 $723.76 $129,376.45
135 $129,376.45 $648.09 $0.00 $731.51 $130,756.05
136 $130,756.05 $648.09 $0.00 $739.31 $132,143.45
137 $132,143.45 $648.09 $0.00 $747.16 $133,538.70
138 $133,538.70 $648.09 $0.00 $755.05 $134,941.84
139 $134,941.84 $648.09 $0.00 $762.98 $136,352.91
140 $136,352.91 $648.09 $0.00 $770.96 $137,771.96
141 $137,771.96 $648.09 $0.00 $778.98 $139,199.03
142 $139,199.03 $648.09 $0.00 $787.05 $140,634.17
143 $140,634.17 $648.09 $0.00 $795.17 $142,077.43
144 $142,077.43 $648.09 $0.00 $803.33 $143,528.85
145 $143,528.85 $648.09 $0.00 $811.53 $144,988.47
146 $144,988.47 $648.09 $0.00 $819.79 $146,456.35
147 $146,456.35 $648.09 $0.00 $828.09 $147,932.53
148 $147,932.53 $648.09 $0.00 $836.43 $149,417.05
149 $149,417.05 $648.09 $0.00 $844.83 $150,909.97
150 $150,909.97 $648.09 $0.00 $853.27 $152,411.33
151 $152,411.33 $648.09 $0.00 $861.76 $153,921.18
152 $153,921.18 $648.09 $0.00 $870.29 $155,439.56
153 $155,439.56 $648.09 $0.00 $878.88 $156,966.53
154 $156,966.53 $648.09 $0.00 $887.51 $158,502.13
155 $158,502.13 $648.09 $0.00 $896.19 $160,046.41
156 $160,046.41 $648.09 $0.00 $904.93 $161,599.43
157 $161,599.43 $648.09 $0.00 $913.71 $163,161.23
158 $163,161.23 $648.09 $0.00 $922.54 $164,731.86
159 $164,731.86 $648.09 $0.00 $931.42 $166,311.37
160 $166,311.37 $648.09 $0.00 $940.35 $167,899.81
161 $167,899.81 $648.09 $0.00 $949.33 $169,497.23
162 $169,497.23 $648.09 $0.00 $958.36 $171,103.68
163 $171,103.68 $648.09 $0.00 $967.45 $172,719.22
164 $172,719.22 $648.09 $0.00 $976.58 $174,343.89
165 $174,343.89 $648.09 $0.00 $985.77 $175,977.75
166 $175,977.75 $648.09 $0.00 $995.00 $177,620.84
167 $177,620.84 $648.09 $0.00 $1,004.29 $179,273.22
168 $179,273.22 $648.09 $0.00 $1,013.64 $180,934.95
169 $180,934.95 $648.09 $0.00 $1,023.03 $182,606.07
170 $182,606.07 $648.09 $0.00 $1,032.48 $184,286.64
171 $184,286.64 $648.09 $0.00 $1,041.98 $185,976.71
172 $185,976.71 $648.09 $0.00 $1,051.54 $187,676.34
173 $187,676.34 $648.09 $0.00 $1,061.15 $189,385.58
174 $189,385.58 $648.09 $0.00 $1,070.81 $191,104.48
175 $191,104.48 $648.09 $0.00 $1,080.53 $192,833.10
176 $192,833.10 $648.09 $0.00 $1,090.31 $194,571.50
177 $194,571.50 $648.09 $0.00 $1,100.14 $196,319.73
178 $196,319.73 $648.09 $0.00 $1,110.02 $198,077.84
179 $198,077.84 $648.09 $0.00 $1,119.96 $199,845.89
180 $199,845.89 $648.09 $0.00 $1,129.96 $201,623.94
181 $201,623.94 $648.09 $0.00 $1,140.01 $203,412.04
182 $203,412.04 $648.09 $0.00 $1,150.12 $205,210.25
183 $205,210.25 $648.09 $0.00 $1,160.29 $207,018.63
184 $207,018.63 $648.09 $0.00 $1,170.51 $208,837.23
185 $208,837.23 $648.09 $0.00 $1,180.80 $210,666.12
186 $210,666.12 $648.09 $0.00 $1,191.14 $212,505.35
187 $212,505.35 $648.09 $0.00 $1,201.54 $214,354.98
188 $214,354.98 $648.09 $0.00 $1,211.99 $216,215.06
189 $216,215.06 $648.09 $0.00 $1,222.51 $218,085.66
190 $218,085.66 $648.09 $0.00 $1,233.09 $219,966.84
191 $219,966.84 $648.09 $0.00 $1,243.72 $221,858.65
192 $221,858.65 $648.09 $0.00 $1,254.42 $223,761.16
193 $223,761.16 $648.09 $0.00 $1,265.18 $225,674.43
194 $225,674.43 $648.09 $0.00 $1,276.00 $227,598.52
195 $227,598.52 $648.09 $0.00 $1,286.88 $229,533.49
196 $229,533.49 $648.09 $0.00 $1,297.82 $231,479.40
197 $231,479.40 $648.09 $0.00 $1,308.82 $233,436.31
198 $233,436.31 $648.09 $0.00 $1,319.88 $235,404.28
199 $235,404.28 $648.09 $0.00 $1,331.01 $237,383.38
200 $237,383.38 $648.09 $0.00 $1,342.20 $239,373.67
201 $239,373.67 $648.09 $0.00 $1,353.45 $241,375.21
202 $241,375.21 $648.09 $0.00 $1,364.77 $243,388.07
203 $243,388.07 $648.09 $0.00 $1,376.15 $245,412.31
204 $245,412.31 $648.09 $0.00 $1,387.60 $247,448.00
205 $247,448.00 $648.09 $0.00 $1,399.11 $249,495.20
206 $249,495.20 $648.09 $0.00 $1,410.68 $251,553.97
207 $251,553.97 $648.09 $0.00 $1,422.32 $253,624.38
208 $253,624.38 $648.09 $0.00 $1,434.03 $255,706.50
209 $255,706.50 $648.09 $0.00 $1,445.80 $257,800.39
210 $257,800.39 $648.09 $0.00 $1,457.64 $259,906.12
211 $259,906.12 $648.09 $0.00 $1,469.55 $262,023.76
212 $262,023.76 $648.09 $0.00 $1,481.52 $264,153.37
213 $264,153.37 $648.09 $0.00 $1,493.56 $266,295.02
214 $266,295.02 $648.09 $0.00 $1,505.67 $268,448.78
215 $268,448.78 $648.09 $0.00 $1,517.85 $270,614.72
216 $270,614.72 $648.09 $0.00 $1,530.09 $272,792.90
217 $272,792.90 $648.09 $75,981.78 $1,542.41 $199,001.62
218 $199,001.62 $648.09 $0.00 $1,125.18 $200,774.89
219 $200,774.89 $648.09 $0.00 $1,135.21 $202,558.19
220 $202,558.19 $648.09 $0.00 $1,145.29 $204,351.57
221 $204,351.57 $648.09 $0.00 $1,155.43 $206,155.09
222 $206,155.09 $648.09 $0.00 $1,165.63 $207,968.81
223 $207,968.81 $648.09 $0.00 $1,175.89 $209,792.79
224 $209,792.79 $648.09 $0.00 $1,186.20 $211,627.08
225 $211,627.08 $648.09 $0.00 $1,196.57 $213,471.74
226 $213,471.74 $648.09 $0.00 $1,207.00 $215,326.83
227 $215,326.83 $648.09 $0.00 $1,217.49 $217,192.41
228 $217,192.41 $648.09 $0.00 $1,228.04 $219,068.54
229 $219,068.54 $648.09 $79,780.87 $1,238.65 $141,174.41
230 $141,174.41 $648.09 $0.00 $798.22 $142,620.72
231 $142,620.72 $648.09 $0.00 $806.40 $144,075.21
232 $144,075.21 $648.09 $0.00 $814.62 $145,537.92
233 $145,537.92 $648.09 $0.00 $822.89 $147,008.90
234 $147,008.90 $648.09 $0.00 $831.21 $148,488.20
235 $148,488.20 $648.09 $0.00 $839.57 $149,975.86
236 $149,975.86 $648.09 $0.00 $847.99 $151,471.94
237 $151,471.94 $648.09 $0.00 $856.44 $152,976.47
238 $152,976.47 $648.09 $0.00 $864.95 $154,489.51
239 $154,489.51 $648.09 $0.00 $873.51 $156,011.11
240 $156,011.11 $648.09 $0.00 $882.11 $157,541.31
241 $157,541.31 $648.09 $83,769.92 $890.76 $75,310.24
242 $75,310.24 $648.09 $0.00 $425.82 $76,384.15
243 $76,384.15 $648.09 $0.00 $431.89 $77,464.13
244 $77,464.13 $648.09 $0.00 $437.99 $78,550.21
245 $78,550.21 $648.09 $0.00 $444.13 $79,642.43
246 $79,642.43 $648.09 $0.00 $450.31 $80,740.83
247 $80,740.83 $648.09 $0.00 $456.52 $81,845.44
248 $81,845.44 $648.09 $0.00 $462.77 $82,956.30
249 $82,956.30 $648.09 $0.00 $469.05 $84,073.44
250 $84,073.44 $648.09 $0.00 $475.36 $85,196.89
251 $85,196.89 $648.09 $0.00 $481.72 $86,326.70
252 $86,326.70 $648.09 $0.00 $488.10 $87,462.89
253 $87,462.89 $0.00 $87,958.41 $494.53 ($0.99)